July 09, 2024 | Produce Report |
July is the peak season for Vietnamese mangosteens, but this year yields have decreased significantly, and prices have dropped by half. In Hau Giang province and Can Tho city, yields are down by 30–50%, while Binh Duong province has seen reductions up to 60%. The poor harvest is attributed to hot weather and insufficient irrigation, resulting in lower quality and quantity of fruit. Consequently, farm gate prices have plummeted to 25,000–40,000 Vietnamese dong ($0.98–1.57) per kilogram, which is 50% less than three months ago and 10% lower than last year.
Thai mangosteens, entering the market earlier in the season, have exacerbated the price decline. Early in the season, Thai mangosteens were sold at 45,000–60,000 dong ($1.77–2.36) per kilogram, about 30% less than the previous year. In contrast, Vietnamese mangosteens were priced significantly higher. As Vietnamese mangosteens now reach their peak season, their quality has not matched Thai imports, causing prices to fall rapidly.
A mangosteen trader in Vietnam noted that unstable weather has led to low fruit set rates and poor quality, further driving the price drop. The large influx of Thai mangosteens has forced Vietnamese traders to reduce their prices to stay competitive. At the Thu Duc wholesale market in Ho Chi Minh City, most mangosteens sold recently were from Thailand, with prices ranging from 40,000 to 60,000 dong ($1.57–2.36) per kilogram. Vietnamese mangosteens were rare as local growers and traders preferred direct sales to customers over wholesale markets.